Brief: BAM To Divest Remaining 50% Share In Invesis To JV Partner PGGM

Koninklijke BAM Groep NV

17/12/2024 07:00

Dec 17 (Reuters) - Koninklijke BAM Groep NV  BAMN.AS :
    * TO DIVEST ITS REMAINING 50% SHARE IN INVESIS TO JOINT
VENTURE
PARTNER PGGM
    * BAM WILL RECEIVE A CASH CONSIDERATION OF APPROXIMATELY EUR
105
MILLION IN TWO TRANCHES IN 2025
    * TRANSACTION IS EXPECTED TO BE CLOSED EARLY 2025
    * IN 2024, TRANSACTION WILL RESULT IN A POSITIVE IMPACT ON
ADJUSTED EBITDA OF APPROXIMATELY EUR 40 MILLION, INCLUDING AN
ADDITIONAL EARN-OUT OF APPROXIMATELY EUR 10 MILLION
    * TRANSACTION WILL REDUCE SOLVENCY BY CIRCA 2%
    * IN DETERMINING DIVIDEND PROPOSAL FOR YEAR 2024 NEGATIVE
EFFECT
ON NET RESULT OF THIS TRANSACTION WILL BE DISREGARDED

Source text:  ID:nFWN3NH1FU 
Further company coverage:  BAMN.AS 

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